Pix (payment system)

Pix (Portuguese pronunciation: [ˈpiks]) is an instant payment platform created and managed by the Central Bank of Brazil (BCB). It enables free instant transfers between individuals in Brazilian real 24 hours a day without interruption, even outside banking hours and during holidays or weekends; payments made and received by legal entities may be subject to fees. Launched in November 2020, Pix was adopted by over 62% of Brazil's population within a year; by 2023, it overtook card transactions. By the first quarter of 2026, monthly Pix transactions reached almost R$3.4 trillion (approximately US$660 billion), a transaction volume equivalent to roughly one-quarter of the annual Brazilian GDP. Pix is the largest payment method in Brazil, processing 8.6 times more transaction value than credit and debit cards combined. The system has seen widespread adoption, with 200 million monthly active users (80% of the population) comprising 175 million individuals and 25 million institutions. Pix is considered one of the world's most successful instant payment systems and is credited with promoting financial inclusion, particularly for low-income people and informal workers. The system has been promoted as a model for other countries, and the BCB has signed agreements to share information about Pix with 65 foreign counterparts.